Abramovich's fortune will increase by $125 million after Evraz pays its dividents

In total, members of the Russian Forbes list will receive dividends from one of the Russia's largest metallurgical and mining companies worth more than $300 million.
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The fortune of Roman Abramovich will increase by $ 124.7 million (after taxes), when Evraz will pay dividends. This is evidenced by the estimates of Forbes. According to the company's announcement yesterday, the board of directors decided to send $ 429.6 million (before taxes) for the payment of interim dividends. This decision, as explained in Evraz, is due to "a stable financial situation and good prospects for the company." Prior to that, the company had not paid dividends for several years.

Abramovich is not the only billionaire who owns a stake in a metallurgical company. Partners businessman - Alexander Abramov and Alexander Frolov - after paying dividends will grow rich by $ 86 million and $ 42.9 million, respectively. Two more members of the Forbes list - Gennady Kozovoy and Alexander Vagin - payment of dividends will bring $ 23.7 million and $ 23.5 million, respectively. Among the major shareholders of Evraz is a foreigner - this is a friend of Abramovich Evgeny Shvidler (No. 1567 in the global Forbes rating, the state is $ 1.3 billion). He will receive $ 12.4 million.

According to the company's report, cash flow for the first half of 2017 was $ 549 million compared to $ 102 million for the same period last year. Consolidated EBITDA reached $ 1.152 billion, which is 99.7% higher than in the first half of 2016 when this figure was $ 577 million. Net income was $ 86 million against a loss of $ 7 million a year earlier.

Evraz is one of the largest Russian metallurgical and mining companies. Registered in the UK, its shares are traded on the London Stock Exchange, and the enterprises are in the US, Canada, Czech Republic, Italy, Kazakhstan, South Africa and Ukraine. The majority stake in the company belongs to investment Lanebrook Ltd., registered in Cyprus in 2006. Its beneficiaries are Abramovich, Abramov, Frolov and Shvidler.

In mid-June, Evraz closed the deal to sell the Lahaina Port of Lanebrook Limited for $ 354.4 million. It was reported that to reduce the debt burden (Evraz's net debt for the first half of 2017 was $ 4.284 billion, total debt - $ 5.569 billion), the company will hold an IPO of its US "Daughters" Evraz North America, but because of the fall in oil prices had to postpone the placement.